Twenty FinTech companies have been identified by Tech Nation as ‘ones to watch’, joining the organisation’s inaugural programme dedicated to this sector. The government-backed network, which supports digital tech entrepreneurs, launched the FinTech programme earlier this year and invited early-stage start-ups to apply.
The selected companies display a remarkable variety and excellence, reflecting the robust growth of the UK’s FinTech sector. Seven out of the twenty firms are situated outside London, with offices located in Norwich, Edinburgh, Cardiff, Canterbury, Manchester, and Bristol. Notable companies among the cohort include Manchester’s mobile technology business Airtime Rewards; CoInvestor in Canterbury; Delio from Cardiff; Edinburgh-based Float; LOQBOX Savings in Bristol; Norwich’s Thyngs; and Sustainably from Edinburgh.
London-based companies chosen for the programme comprise Akoni, AltFi Data, Coinfirm, CreditLadder, Enforcd, Fiskl, Funding Options, Maxatta, MishiPay, SteelEye, Tail Offers, TAINA Technology, and TransFICC. Over the course of five months, these businesses will engage with some of the UK’s most talented FinTech entrepreneurs. Key topics will include scaling challenges, partnerships with incumbents, regulations, and international expansion. The sessions will be conducted in London, Edinburgh, Manchester, and Leeds to foster cross-country networking.
Eileen Burbidge, Tech Nation’s chair and one of the programme judges, praised the calibre of applications as ‘incredibly impressive’. Burbidge, who also serves as the HM Treasury’s special envoy for FinTech and chair of the FinTech Delivery Panel, stated, ‘The companies chosen have already demonstrated that they are winners and will certainly have many more successes to come.’
Gregoire Michel, Tech Nation’s FinTech programme lead, noted, ‘When we devised Tech Nation’s first FinTech programme, we anticipated that entrepreneurs were increasingly building great companies in the regions. The number of applications we received from the regions bore out this hypothesis, and while London remains the most important FinTech cluster in the UK, we are delighted that more than a third of the first cohort will come from outside London.’
Another judge, Richard Theo, chief executive of Wealthify, posed the critical question of whether a future unicorn might be among the twenty companies. He remarked, ‘Given the great range of ideas, strengths of the teams, and the support they can now get—there’s a really good chance that there’s one in there.’
The programme for the founding teams includes a 24-hour induction, a series of eight in-depth learning sessions, five networking dinners, and a three-day showcase trip to the USA in mid-January 2019. To qualify for Tech Nation’s programme, start-ups needed to be between seed and Series A stage and demonstrate market success for their products.
The launch of Tech Nation’s FinTech programme highlights the dynamic and growing landscape of the UK’s FinTech sector. With a mix of London-based and regional companies, the programme promises to foster innovation and collaboration, potentially identifying future industry leaders.